25-Year vs. 30-Year Mortgage Amortizations
by RateHub.ca When shopping for a mortgage, you’re probably most concerned with the interest rate and term. However, an equally important decision is the amortization period, which is the length of time it takes to fully pay off your mortgage.25-Year
Mississauga Backing off Land Transfer Tax...For Now
Last week, we wrote about the City of Mississauga’s plan to start charging a land transfer tax, one that would add thousands of dollars to the price of a new home in Mississauga. We felt that it was unfair, and illogical, since no new services were being
Mississauga Looking at New Land Transfer Fee
Remember that pesky land transfer tax in Toronto? The one that has helped deter buyers from purchasing both low-rise and high-rise homes in the city? The one that adds upwards of $20,000 to the bottom line when moving to Toronto? Yup, that’s the one!
How You Can Own Your Home Sooner
A recent Scotiabank poll found that nearly three-quarters (72 per cent) of Canadians are taking at least one step to becoming mortgage-free sooner. The biggest advantage of paying your mortgage off sooner is the amount of interest you would save. A
Major Banks Raise Interest Rates
Following months of speculation, three of the major Canadian banks have raised their interest rates.
HST around the house
With HST tax coming into effect July 1st, many new home owners are wondering what exactly will be affected, and what won't. About 83% of products and services purchased by consumers will see no new tax.
HST around the house
With HST tax coming into effect July 1st, many new home owners are wondering what exactly will be affected, and what won’t. Many household items that were previously subject to 8% provincial and 5% federal tax will now simply switch over to the 13% HST,
The Hidden Costs of Popular Mortgages
Four popular mortgage terms: the venerable five-year fixed, the conservative 10-year fixed, the open mortgage, and the full-featured mortgage with big pre-payment privileges, why people pick these terms and how statistics impact each term's total cost of
Builders working to reduce impact of HST on new home buyers
The controversial new HST rules have been causing quite a stir as their July 1, 2010 implementation date approaches, and nowhere is this more evident than in the realm of the biggest of big purchases, new home sales.The good news for most Ontario
Is your income at risk? Your home doesn’t have to be
When life delivers an unexpected blow – like a serious illness, a marital separation or loss of employment – it can be difficult to stay on track. Sometimes, it can even put your ability to make your mortgage payments at serious risk.This scenario
